Melodia3906 Melodia3906

04-12-2020
Business

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What are the additional costs you pay each year in order to borrow money in loans? This includes both interest and fees.
A: Annual Percentage rate (ARP)
B: Variable Interest
C: Origination Fees
d: Fixed interest

Respuesta :

ogorwyne ogorwyne

28-03-2022

The annual percentage rate is the additional cost that you pay monthly in order to borrow money in loans.

What is the annual percentage rate?

This rate is also expressed as the interest rate. It is the amount that one is charged for the money that they borrowed.

This amount is the actual cost of the loan that they got which is expressed in percentages.

Read more on interest rate here: https://brainly.com/question/25545513

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